Bosnia: Gov rejects power utility EPBiH business report 2015

Published on 13. July 2016., SEE Energy News

Shareholders of Bosnian power utility EPBiH have rejected the company’s business report for 2015, as well as the report on the distribution of last year’s profit at the General Assembly meeting held on 29 June.

Annual business report for 2015 has not been adopted primarily due to the votes of EPBiH’s majority shareholder, the Government of the Federation of Bosnia and Herzegovina, since the decision was made with 95.1 % of votes against and 4.2 % of votes in favor of the proposal.

According to the proposal, it was envisaged that out of last year’s profit, which amounted to 1.85 million euros, a dividend of about 0.04 euros per share would be paid out to its shareholders. Some 1.33 million euros was intended for this purpose, while 20 % of last year’s profit or about 370,000 euros should have been allocated to reserve fund and the remaining 151,000 euros should have been considered as retained earnings.

Federal Government of Bosnia and Herzegovina is the largest shareholder of EPBiH with 90.3 % stake, transmits Serbia-energy.eu